Most people think that they can’t retire until they take Social Security. So, when I advise them to delay their Social Security benefit until age 67 (and most often until age 70), all they hear me saying is, “YOU HAVE TO WORK LONGER!”

Not True! The age when you take Social Security and the age at which you retire DO NOT have to coincide.

Where my clients are concerned, they have saved substantial amounts of money in their 401(k)s, IRAs, trust accounts and the like. They can retire, delay their social security benefit, withdraw from their retirement savings and then simply draw less once they start taking Social Security. If they live past 80, they are likely better off.

No two financial plans are the same. Have your CFP® professional run your Social Security analysis to see what’s best for you.

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